You open an individual retirement account (IRA) with a mutual fund and contribute $1,000 into the account each year. How much will be in the account after 20 years if the investment earns 7% annually?
What will be an ideal response?
$1,000(40.995) = $40,995
40.995 is the interest factor for the future value of an annuity at 7% for twenty years. (PV = 0; N = 20; I = 7; PMT = -1000, and FV = ?. FV = 40995.)
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A. ANI B. Caller ID C. DNIS D. IID
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Answer the following statement true (T) or false (F)
In some reference styles, it is permissible to include subheadings that denote the types of publications documented, such as books, articles, websites, etc
Indicate whether the statement is true or false